The New Zealand Institute for Plant & Food Research Limited
Blockchain
The very little that I've learnt
Blockchain
The technology behind cryptocurriencies
Attributes of blockchain
Consensus
- all parties in the business network agree on the kind of information to be captured about an asset
Provenance
- parties are able to trace records (of an asset) to its source
Immutability
- records in a ledger cannot be altered or removed
Finality
- when a transaction is committed there is no rolling back
The basic idea
The basic idea
Shared ledger
- Append-only distributed system of record shared across business network
Privacy
- Transactions are secure, authenticated & verifiable
Smart contract
- Business terms embedded in transaction database & executed with transactions
Trust
- Transactions are endorsed by relevant participants
Use cases
Private vs Public blockchain
Permissionless blockchain
- anyone can join the network. E.g., bitcoin, ethereum,
Permissioned blockchain, or private blockchain
requires pre-verification of the participating parties within the network
these parties are usually known to each other.
Hyperledger Fabric
An implementation of blockchain technology that is intended as a foundation for developing blockchain applications
Key technical features:
- A shared ledger and smart contracts implemented as "chaincode"
- Privacy and permissioning through membership services
- Modular architecture and flexible hosting options
Hyperledger fabric
Hyperledger composer
Oraclize.it
The New Zealand Institute for Plant & Food Research Limited